Summary of Technical Analysis, Market Sentiment and Trading Plan, and Modifications:

audjpy-h1-20161014
AUDJPY H1, Price Rebounded off from Bottom of Range, 2 Minor Retracements Completed within Minor Resistance Zone at 0.7836.

Shorted with full risk after 2nd minor retracement formed and completed within the minor resistance zone at 0.7386, and set stop loss above the range in anticipation of a 2nd major retracement +20 pips from the top.

audjpy-m15-20161014-mods-and-results
AUDJPY M15, Price Broke Above Range

Exited 1/2 position as price broke above the minor resistance zone and forming a 2nd major retracement.

Shorted another 1/2 risk after price completed 2nd major retracement within the major resistance zone at 0.7870 and as it started to consolidate while stop loss set 20 pips above the top of the range.

The price went on to break the top of the range and eventually hit stop loss for both the first trade made within the minor resistance zone and the second trade made within the major resistance zone.

Result: Loss 3.5%

Learning: The trade was not supposed to be executed at first because it is not within the market hour, and on top of that, I am not able to monitor the trade till I can shift stop loss as I am sleeping already.

Never execute a new trade when you know you are turning in soon and when you are not trading within market hours.

The 2nd trade was still reasonable as it was executed during Tokyo market hour.